Division Could Be Worth About $5 Billion

Johnson & Johnson, which has been shedding slow-growing products and units, is canvassing companies that might be interested in buying its blood-testing division, which could be worth around $5 billion, according to people familiar with the matter.

J&J's advisers have begun talking with other health-care companies and private-equity firms that are seen as possible buyers of the business, one of the people said, adding that a...